04 Aug Shipping Refunds Deliver Much Needed Savings
Shipping refunds provide your company with vital, hard-dollar savings. These dollars add up fast and if your business is a high-volume shipper, SSI freight audit services will identify and recover shipping refunds that may save you tens-of-thousands of dollars a month. Our freight audit services are a proven way to recover much-needed money as your shipping and supply chain costs climb.
SHIPPING REFUNDS – RECOVER BIG SAVINGS WITH SSI
Shipping refund recovery is a key benefit of working with SSI. Our comprehensive, multi-modal freight audits check and verify bills from thousands of carriers worldwide. Because our freight-audit expertise is broad and deep, SSI discovers thousands of erroneous or duplicative shipping charges every week. Our custom, automated process pinpoints these billing mistakes. We then move fast to recover the refunds on your behalf.
If no one is currently auditing your freight bills, this is the ideal time to contact SSI and start saving now.
If another provider is already auditing your freight and parcel invoices, you may be glad to know that SSI provides a post-audit verification service that may yield thousands of dollars in additional shipping refunds for you.
GLOBAL SUPPLY CHAINS DISRUPTIONS ARE WREAKING HAVOC ON SHIPPERS
Another important reason you should consider working with SSI, a best-in-class freight audit company, is because multiple supply chain disruptions are currently wreaking havoc on shippers.
A shortage of raw materials and parts, uncommon shipping delays and limited freight transportation capacities are creating a crisis for countless businesses in North America and Europe. As some shippers scramble to determine where, or even if, their goods are in transit, it is easy for team members to overlook shipping-invoice errors. Our pre-payment audits will ensure that all billing mistakes are identified immediately, so you only pay what you actually owe.
As Guy Platten, Secretary General of the International Chamber of Shipping, recently told Reuters, “This is a perilous moment for global supply chains.” 1 Of note, there are concurrent factors disrupting supply networks. Torrential floods in Europe and Asia recently cut off roadways and railways. 2 Fires in North America have done the same. 3 Covid-19 outbreaks are shutting down factories and ports in Asia and elsewhere.4
Unfortunately, there is no indication this supply chain and shipping turbulence will soon dissipate. Much of the world’s population remains unvaccinated. Further, some experts think the impact of devastating weather events may worsen as once-in-a-century natural disasters are happening with increasing frequency. Even scientists who predicted future weather upheaval are stunned by recent events.5
FREIGHT RATES ARE HISTORICALY HIGH
As addressed in a recent freight audit blog post, higher freight costs amplify the need for the multi-modal freight audits offered by SSI.
Trans-Pacific ocean container shipping rates have skyrocketed in the past year. In large part, the rates are high because demand is unprecedented, which has ports in North America, the UK, and Europe congested.
The clogged ports and terminals are causing shipping delays. Further, the ripple effect impacts the rail and trucking markets, creating a chain reaction of capacity crunches that slows the flow of goods. Ironically, the sluggish movement of products creates a more urgent demand for freight, resulting in higher costs for shippers across all modes of transportation.
To minimize freight delays and uncertainties, shippers who can afford to do so are turning to air cargo. However, speed comes at a price. In July, 2019, prior to the pandemic, the average air freight rates from Hong Kong to North American was $3.44 per kg. This July, the average was $7.90 per kg, a 130% increase. 6
Once cargo is unloaded from ships, trains, or planes, most US shippers rely on Truckload and LTL services to move goods on the road. Unfortunately. J.B. Hunt, FedEx Freight and others are restricting capacity as demand outstrips their resources. As these and other carriers limit their intake volume, many shippers are having to pay higher spot rates to other carriers simply to move the rest of their goods in a timely fashion.7
COUNTER THE CHAOS AND HIGH FREIGHT COSTS WITH SSI FREGHT AUDITS
Fortunately, there is something supply chain managers and their counterparts in operations, finance, e-commerce, freight and logistics can do to combat the costly challenges of transporting freight. They can count on SSI to audit every freight bill and parcel invoice across their entire supply chain.
SSI solutions scale and flex to accommodate your changing requirements. Whatever your current or future shipping needs, SSI helps your business achieve measurable savings and improved efficiencies.
The costly risks associated with supply chain disruptions can be mitigated as we recover shipping refunds on your behalf. Interested in learning more about saving money with SSI freight audits? Please fill out the form on the bottom of this page or contact SSI today.
OTHER SERVICES FROM SSI
SSI is committed to helping our customers save money and improve efficiencies. Ask about these other valuable services available from SSI.
- Parcel audit services
- Global freight payment services
- Freight rate benchmarking services
- Post-audit verification services
- LTL cost management
- Transportation management services
- Service level optimization analysis
- Claims Management
1: Jonathan Saul, Muyu Xu, Yilei Sun, “Global supply chains buckle as virus variant and disasters strike”, July 26, 2021, as published by Reuters.
2: “Typhoon brings more supply chain chaos in China, closing air, sea and rail hubs”, July 26, 2021, as published by The Loadstar.
3: “Wildfires halt Union Pacific, BNSF trains in Northern California”, July 27, 2021, as published by FreightWaves.
4: Lauren Thomas, “Nike could run out of sneakers made in Vietnam as Covid crisis worsens, S&P Global warns”, July 19, 2021, as published by CNBC.
5: Warren Cornwall, “Europe’s deadly floods leave scientists stunned”, July 20, 2021, as published by Science.
6: Damian Brett, “Rates stable in July but elevated prices expected into 2022”, July 30, 2021, as published by Air Cargo News.
7: Jim Stinson, Senior Reporter, “Capacity crunch prompts JB Hunt to limit service”, July 20, 2021, as published by Transport Dive.